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Question - Sarbanes-Oxley, Internal Control, and Cash - During the preparation of a bank reconciliation, the assistant controller discovered that the Bank incorrectly recorded a $3290 check as $329. The controller has decided not to notify the bank but wait for the bank to detect the error. The controller plans to record the $2961 error as "Other Income" if the Bank fails to detect the error within the next three months. Please discuss whether the controller is behaving in an ethical manner.
How are cash equivalents reported in the financial statements? Please list two examples of cash equivalents.
Prepare flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month
Camden Biotechnology began operations in September 2016. Prepare the appropriate journal entries for 2016 and 2017 transactions
A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the ..
Journalize the revenue transaction and indicate how recording this revenue in December would affect the current ratio
A number of manufacturing plants in Hometown City recebtly closed. What will happen to the market value and the market price for properties in the area?
Ethiopian Sugar Corporation has $7,500 in bonds outstanding that are selling at par. What is the Weighted Average Cost of Capital
mountain view inc. has 50000 shares of 8 100 par value noncumulative preferred stock and 100000 shares of 1 par value
Costigan's tax rate for 2016 is 30 percent, and the enacted tax rate for 2017 and 2018 is 40 percent. What is Costigan's income tax payable at December 31, 2016
schrager company has two production departments cutting and assembly. july 1 inventories are raw materials 4200 work in
Lauren Inc. has prepared the operating budget for the first quarter of 2015. Calculate total selling and administrative expenses for the month of October
Journalize the entries made by the seller to record the return and the refund. If an amount box does not require an entry, leave it blank.
operating expenses other than depreciation for the year were 400000. prepaid expenses increased by 17000 and accrued
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